Shares of Axcelis Technologies, Inc. (NASDAQ: ACLS) soared 5.28% on Monday after the semiconductor equipment company reported solid financial results for the third quarter of 2024 and provided an optimistic outlook for continued growth.
For the three months ended September 30, 2024, Axcelis reported revenue of $256.6 million, reflecting a slight increase from the previous quarter and in line with analysts' expectations. The company's operating margin stood at 18.3%, while diluted earnings per share came in at $1.49, beating estimates.
Looking ahead, Axcelis forecasted revenue of approximately $245 million and earnings per diluted share of around $1.25 for the fourth quarter of 2024. While the company expects a temporary slowdown in mature node capacity during the first half of 2025, its long-term growth prospects remain robust.
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